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Dec 28, 2012
12/12
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frantic work under way with just four days left to pass a fiscal cliff deal and lawmakers are meeting again this afternoon to try to avert major tax hikes and spending cuts. the latest on what we can expect from today's efforts. >> the key players will give it one last shot. president obama and congressional leaders will meet this afternoon at the white house in a last-ditch effort to avoid a self-inflicted fiscal calamity. this is the first meeting between the power plays in six weeks. if they can't work out some kind of agreement automatic tax hikes and spending cuts will go into affected new year's day, which will impact most americans and will put the nation back into recession. >> we are coming up against a hard deadline. >> at today's meeting, president obama will push for a stop gap measure, a small deal that will at least prevent tax increases for those earning $250,000 or less. but even that seems unlikely. >> the american people have a right to be very upset with this congress. >> publicly, both sides have ratcheted up rhetoric, pointing the finger. >> john boehner seems to
frantic work under way with just four days left to pass a fiscal cliff deal and lawmakers are meeting again this afternoon to try to avert major tax hikes and spending cuts. the latest on what we can expect from today's efforts. >> the key players will give it one last shot. president obama and congressional leaders will meet this afternoon at the white house in a last-ditch effort to avoid a self-inflicted fiscal calamity. this is the first meeting between the power plays in six weeks....
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Dec 31, 2012
12/12
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WUSA
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is apparently going over the fiscal cliff. in just six hours across the board spending cuts and automatic tax hikes for all americans will kick in. lawmakers say they're close to an agreement. there are still some major sticking points. randall pinkston has the very latest. >> reporter: the gnat is close to a daily as the clock ticks toward mid nature and the nation teethers on the edge of the so-called fiscal cliff. >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: the tentative deal would extend bush era tax cuts for families making $450,000 a year and individuals making 40 o,000. it would also extend unemployment benefits for one year. president obama said he would have preferred a grand bargain that solves all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. it may be we can do it in stages. >> reporter: negotiations have been going on all day, lawmakers and aids moving back and forth be
is apparently going over the fiscal cliff. in just six hours across the board spending cuts and automatic tax hikes for all americans will kick in. lawmakers say they're close to an agreement. there are still some major sticking points. randall pinkston has the very latest. >> reporter: the gnat is close to a daily as the clock ticks toward mid nature and the nation teethers on the edge of the so-called fiscal cliff. >> let's pass the tax relief portion now. let's take what's been...
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Dec 30, 2012
12/12
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FOXNEWSW
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part of the looming fiscal cliff includes a painful dose of automatic spending cuts that would kick in just a few days from now. our military would be on the receiving end of a lot of it. a half trillion dollars in cuts over the next decade. it has a fancy name. it is called see -- sequestration. many warn of job losses and even the impact on the national security. now, the news on this from washington. >> harris, last friday when president obama rolled out his new plan for steering us away from the fiscal cliff there was a word he did not say. that word was sequester. it would cut $100 billion from the budget next year, half from domestic programs and half from defense programs. and now as the deadline draws close, experts are look at these cuts from a national security standpoint and warning one final time about their impact on the safety of our service members. >> it is going to affect the operational force that is deployed in terms of its you ability to maintain its equipment and get repair parts. that force is deployed around the world. it is not just the force in afghanistan that
part of the looming fiscal cliff includes a painful dose of automatic spending cuts that would kick in just a few days from now. our military would be on the receiving end of a lot of it. a half trillion dollars in cuts over the next decade. it has a fancy name. it is called see -- sequestration. many warn of job losses and even the impact on the national security. now, the news on this from washington. >> harris, last friday when president obama rolled out his new plan for steering us...
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Dec 31, 2012
12/12
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WTTG
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cliff deal. no deal will mean spending cuts and tax increases for millions of americans with fears that it could trigger another recession. ed henry has latest. >> happy new year. >> the house and senate back to work for a rare sunday session trying to figure out the fiscal cliff negotiations. a lot of talk, very few solutions so far. >> our membership is frustrated as the american people we're sworn to serve. >> none. votes that we'll be casting today have anything to do with these deadlines that we face in slightly more than 24 hours. we're here. we're ready. >> reporter: president obama sitting down for his first sunday morning talk show interview in over three years told nbc it is time to lawmakers to nail down a deal o. >> we don't yet see an agreement and now the pressure is on congress to produce. >> reporter: republicans and democrats going back and forth behind closed doors working through night trying to avoid some of the most painful tax hikes and spending cuts in our nation's history.
cliff deal. no deal will mean spending cuts and tax increases for millions of americans with fears that it could trigger another recession. ed henry has latest. >> happy new year. >> the house and senate back to work for a rare sunday session trying to figure out the fiscal cliff negotiations. a lot of talk, very few solutions so far. >> our membership is frustrated as the american people we're sworn to serve. >> none. votes that we'll be casting today have anything to...
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. >> accept at is voting right now to keep our nation from going over the fiscal cliff in a big way. plan has been agreed upon by the white house and senate republicans. it is all to the avoid tax increases and stop sweeping spending cut cuts. good evening. carolyn johnson has the night off. >> we are now officially over the fiscal cliff because it's past midnight east coast time but on this new year's eve late night work continues in washington to avoid tax hike and budget cut. democrat voting on the deal between the white house and congressional republicans in the senate. karen travers has the latest development from capitol hill. >> don't start popping the champagne just yet but my knowledge step to avoid the fiscal cliff tonight. after days of intense negotiations, the white house and senate republicans reached a deal. tonight vice president biden went up to capitol hill to sell it to senate democrats. >> happy new year. >>reporter: biden swooped in at the 11th hour to hammer out an agreement. that would permanently extend the bush tax cut for individual making under 400,000. hou
. >> accept at is voting right now to keep our nation from going over the fiscal cliff in a big way. plan has been agreed upon by the white house and senate republicans. it is all to the avoid tax increases and stop sweeping spending cut cuts. good evening. carolyn johnson has the night off. >> we are now officially over the fiscal cliff because it's past midnight east coast time but on this new year's eve late night work continues in washington to avoid tax hike and budget cut....
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Dec 31, 2012
12/12
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WBAL
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the spending cuts and tax hikes are expected to take effect. >> the night before the fiscal cliff. the senate gave up until tomorrow. >> there is still time to reach an agreement. >> they dropped the demand to cut social security. >> i am optimistic we can live move legislation and get this averted before tomorrow. >> the taxes will go up on most americans. huge cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff. >> president obama blamed republicans. >> they say the biggest priority is making sure they deal with the deficit in a significant way. they are behaving in a way that they're only priority is that the tax breaks for the wealthiest americans are protected. blacks mitch mcconnell is vowing to find out. -- >> mitch mcconnell is vowing to find out. >> can the senate veteran help congress tumble to a deal on the last day? >> if we do go off the fiscal cliff, congress would be more likely to make a deal. members could claim they are cutting taxes. >> thank you. if america does fall off the fiscal cliff on the first of the year, maryland
the spending cuts and tax hikes are expected to take effect. >> the night before the fiscal cliff. the senate gave up until tomorrow. >> there is still time to reach an agreement. >> they dropped the demand to cut social security. >> i am optimistic we can live move legislation and get this averted before tomorrow. >> the taxes will go up on most americans. huge cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff....
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Dec 30, 2012
12/12
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audrey barns has more on that fiscal cliff countdown. >> reporter: lawmakers summoned to the white house for an emergency summit to try to hammer out a deal to avoid the fiscal cliff and describe the talks as productive. they didn't produce an agreement. from the senate floor, words of optimism from minority leader mitch mcconnell. >> we're engaged in discussions, the majority leader and myself and the white house and in hopes that we can come forward as early as sunday and have a recommendation. >> reporter: harry reid took a cautionary town, perhaps to allay the fears of americans who are wonder how long going off the cliff will affect their paychecks. analysts say taxes on people making between 50,075,000 a year will go up an average of $2,500. >> whatever we go up is going to bem perfect. some people are not going to like it and some will like it less and that is where we are. i feel confident we have an obligation. >> reporter: president obama said that it's important for congress to vote on some type of package before it expires. >> if the agreement is not reached in time between s
audrey barns has more on that fiscal cliff countdown. >> reporter: lawmakers summoned to the white house for an emergency summit to try to hammer out a deal to avoid the fiscal cliff and describe the talks as productive. they didn't produce an agreement. from the senate floor, words of optimism from minority leader mitch mcconnell. >> we're engaged in discussions, the majority leader and myself and the white house and in hopes that we can come forward as early as sunday and have a...
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Dec 28, 2012
12/12
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they'll meet today at the white house to try and reach a deal on that so-called fiscal cliff. if that happens, it would trigger increases and massive spending cuts, likely sending the country back into recession. the president called the top four congressional leaders late last night. they'll meet at the white house this afternoon, trying to find a way to avoid that fiscal cliff. the house won't return to work until sunday evening and republican leaders say they could be in session until january 2nd, the day before the new congress is sworn in. democratic leaders say congress owes it to americans to be back at work, and republican leaders say it's senate leaders who have failed to act. both sides are blaming each other for pushing the nation to the brink. >> so-called senate bill that the majority leader is referring to passed with only democratic votes and despite his repeated calls for the house to pass it, he knows as well as i do that he himself is the reason it can't happen. >> we have four days to avert a crisis that could harm our fragile recovery, cost us another credi
they'll meet today at the white house to try and reach a deal on that so-called fiscal cliff. if that happens, it would trigger increases and massive spending cuts, likely sending the country back into recession. the president called the top four congressional leaders late last night. they'll meet at the white house this afternoon, trying to find a way to avoid that fiscal cliff. the house won't return to work until sunday evening and republican leaders say they could be in session until...
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Dec 31, 2012
12/12
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WUSA
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. >>> meanwhile the final day of fiscal cliff negotiations. hopes of reaching a wide-ranging deal to avoid automatic tax increases and spending cuts is all but gone. without a plan in place by midnight it will cost americans an additional $536 billion. spending would be reduced by $110 billion, and the cuts would be felt in all areas of the government. economists have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal one that might spare millions of americans from paying higher taxes. danielle nottingham is in washington with the latest. dab yell, good morning to you. >> good morning, terrell, vice president joe biden is now in on negotiations. senate minority leader mitch mcconnell reached out to him sunday night after talks with democrats stalled. but with just hours go until this deadline there are still obstacles standing in the way of even a watered down agreement. lawmakers left the capitol sunday night without a d
. >>> meanwhile the final day of fiscal cliff negotiations. hopes of reaching a wide-ranging deal to avoid automatic tax increases and spending cuts is all but gone. without a plan in place by midnight it will cost americans an additional $536 billion. spending would be reduced by $110 billion, and the cuts would be felt in all areas of the government. economists have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the...
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Dec 26, 2012
12/12
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FOXNEWSW
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if we're going to cut the size and scope of government perhaps we should go over the fiscal cliff so people will understand government spending is out of control and may start to ask questions being asked at the kitchen tables of every family, why we see christmas sales so low. they're saying how do we make major purchases? people are cutting back in personal lives, they want got to do the same. something else is playing into christmas sales being low. christmas itself is under attack. a lot of christian conservatives believe that if we're going to say happy holiday, perhaps those that think it's any other holiday should support the economy and they're not buying the gifts they used to buy. they do christian efforts locally in churches and talk to families about other things than gifts. >> we always say merry christmas here but stay on this here. if we do go over the fiscal cliff, yes, taxes will go up. molly outlined how much for every income level across the board. >> very hard. >> down the road, isn't it the only way we get our fiscal house back in order? >> that's what i'm hearin
if we're going to cut the size and scope of government perhaps we should go over the fiscal cliff so people will understand government spending is out of control and may start to ask questions being asked at the kitchen tables of every family, why we see christmas sales so low. they're saying how do we make major purchases? people are cutting back in personal lives, they want got to do the same. something else is playing into christmas sales being low. christmas itself is under attack. a lot of...
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Jan 1, 2013
01/13
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WMAR
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cliff, it's a debts crisis. >> the spending cuts that were a sticking point are now postponed for two months at least. >> much more to come on this. stay with abc2 news for late breaking details out of washington. when we're not on the air you can get updates on abc2news.com. you can also find a guide on what the deal could mean for your wallet. if youhaven't checked your tax standing with the homestead tax credit, you better do it, today is the last day. you can turn in your tax application on wednesday in person at the state tax office in baltimore city. new tonight, we have pictures of two teams -- teens arrested charged with beating another man. terrence green and dominic wardrick attacked a man on november 3rd. the man was attacked on lombard street. theman is still in the hospital. 216 people were murdered in baltimore city in 2012. font a-- tonight a vigil to remember them all. people stood together outside of the war memorial building, the mayor was there too. . >> the people who we have lost to violence on the streets, our sons, daughters, brothers, sisters, daughters, mother
cliff, it's a debts crisis. >> the spending cuts that were a sticking point are now postponed for two months at least. >> much more to come on this. stay with abc2 news for late breaking details out of washington. when we're not on the air you can get updates on abc2news.com. you can also find a guide on what the deal could mean for your wallet. if youhaven't checked your tax standing with the homestead tax credit, you better do it, today is the last day. you can turn in your tax...
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Dec 27, 2012
12/12
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FBC
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can president obama come pack -- back and fix this fiscal cliff? >> no,e's decided he's not going to cut anything, anywhere. it's not a discussion. john boehner put the ball back in his court saying i'll ease up on taxes and he's not willing to cut significant spending. >> thank you very much. >>> fair and balanced. democratic congressman gregory meeks joins me live in the studio. you were feisty on the way in saying you and are going to to getting together on the house floor and sign a deal. no fiscal cliff. >> we have to work it out. it's bad for the country if we don't. i've talked to a number of friends from bothides of the aisle and we are hopeful it gets worked out. >> how can you work itut when the president himself, according to the "wall street journal" said -- speaker boehner came up with $800 billion and he said that doesn't cnt. >> it's clear we see what the problem is. the problem is, as the speaker indicated before we broke, he thought he had votes. so his plan b. the speaker said, and the majority leader said, i have the votes. we we
can president obama come pack -- back and fix this fiscal cliff? >> no,e's decided he's not going to cut anything, anywhere. it's not a discussion. john boehner put the ball back in his court saying i'll ease up on taxes and he's not willing to cut significant spending. >> thank you very much. >>> fair and balanced. democratic congressman gregory meeks joins me live in the studio. you were feisty on the way in saying you and are going to to getting together on the house...
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Dec 31, 2012
12/12
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cliff, means big cuts for the defense department. even if an agreement is reached, the threat still looms large. ♪ ♪ i'm halfway to your heart ♪ you have to let me know ♪ so i don't make my worst mistake ♪ ♪ turn around and let you go [ female announcer ] when sweet and salty come together, the taste is irresistible. made with sweet, smooth peanut butter and salted, roasted peanuts. sweet and salty nut bars by nature valley. nature at its most delicious. . >>> you know there is a lot at stake in the fiscal cliff talks besides the looming tax hikes. fox's peter deucey has a look at the latest in massive cuts that could be coming to the defense department. >> reporter: senator lindsay graham told me this morning his phone rang during dinner saturday night. it was defense secretary leon panetta calling to say he had been told that the bill to avoid the fiscal cliff will not include anything to avoid sequestration. on tuesday, leon panetta will have to write 800,000 layoff notices to the defense contractors. >> if the preside
cliff, means big cuts for the defense department. even if an agreement is reached, the threat still looms large. ♪ ♪ i'm halfway to your heart ♪ you have to let me know ♪ so i don't make my worst mistake ♪ ♪ turn around and let you go [ female announcer ] when sweet and salty come together, the taste is irresistible. made with sweet, smooth peanut butter and salted, roasted peanuts. sweet and salty nut bars by nature valley. nature at its most delicious. . >>> you know...
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Dec 27, 2012
12/12
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FBC
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if we're going to cut the sizeia and scope of government, perhaps we should go over the fiscal cliff so people understand government spending is out of control and may start to ask the questions being asked at the f round table and kitchen tables ofam every family white christms sales are so low. they're saying how can i make a major purchases in this economye people are cutting back and want government to do the same thing but something else is playing into why you are seeing christmas sales go so low this christmas season. a lot believe if we are going to say happy holidays perhaps those people who say it is any other holiday should support the economy as a result they are not buying the gifts they need to buy. they are talking to their families about a other things tn gifts.e. eric: stay on this a little bit, if we do go over the fiscal cliff, texas will go up. going up for every income level across the board. but down the road, is that the only way we get our fiscal house back in order? >> we're back down to the law, this is only a fe if you shouldy for massive government is unfa
if we're going to cut the sizeia and scope of government, perhaps we should go over the fiscal cliff so people understand government spending is out of control and may start to ask the questions being asked at the f round table and kitchen tables ofam every family white christms sales are so low. they're saying how can i make a major purchases in this economye people are cutting back and want government to do the same thing but something else is playing into why you are seeing christmas sales...
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Dec 30, 2012
12/12
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WJLA
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of the fiscal cliff. cry from a grand bargain that democrats and republicans were hopeful about. will playe redskins tonight. the redskins can still get in with a loss, but they will need help in the early game. how many layers of burgundy and gold will you need to wear? dave is standing by. bulk if you are going out there. the few women snow showers from yesterday's storm. in the sunshine. 33 at dulles. we have windchill values in the 20's. l be a chilly day from to end.g our high temperatures will be .0's 2 40's about 33 degrees. the winds will start to subside in the overnight hours. lots of layers of burgundy and gold. of the year, seasonally cool. 42-46. may be a mix of rain and snow. thereafter, keep that lead burgundy.
of the fiscal cliff. cry from a grand bargain that democrats and republicans were hopeful about. will playe redskins tonight. the redskins can still get in with a loss, but they will need help in the early game. how many layers of burgundy and gold will you need to wear? dave is standing by. bulk if you are going out there. the few women snow showers from yesterday's storm. in the sunshine. 33 at dulles. we have windchill values in the 20's. l be a chilly day from to end.g our high temperatures...
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Dec 28, 2012
12/12
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KGO
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cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is raining but not reaching the ground. sprinkles possible during the as air mass start to moisten under this flow from the west. best chance of light rain around noon and later this afternoon. until then, chilly, dress for temperatures in the 30s everywhere, except fremont, 41, oakland if you are san francisco 44, monterey bay, everybody in the 30s except salinas at 40, m
cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you...
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Dec 28, 2012
12/12
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nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the country is in a financial crisis. i think obama gets a superhero cape after this. >> andrea: people say republican goes down either way on this. but the house and the senate, this last election by blaming republicans. does he think he will get blamed for this? no. he figures i can do whatever i want. leave the republicans out for dead. >> eric: he is winning the messaging game. that is clear. >> andrea: i say that with confidence. he was able to say look, i was willing to meet them halfway. more than 50%. they don't want to work with us together. he is coming off strong, comin
nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the...
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Dec 28, 2012
12/12
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WJLA
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economy would go off a fiscal cliff. that's when automatic spending increases and spending cuts would take effect. -- a deal will not be easy, because both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president we would be happy to look at whatever he proposes. the truth is we are coming up against a hard deadline. this is a conversation we should have had months ago. clerk democrats want to extend bush-era tax cuts to everyone except those americans making to a hundred $50,000 or more per year. many republicans are against any tax increases. -- democrats want to extend bush-era tax cuts to everyone except those americans making $250,000 per year. >> d.c. mayor vincent gray says the christmas eve killing on capitol hill is a rallying cry to put more police on the streets in city neighbo
economy would go off a fiscal cliff. that's when automatic spending increases and spending cuts would take effect. -- a deal will not be easy, because both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president we would be happy to look at whatever...
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Dec 25, 2012
12/12
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CNNW
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the fiscal cliff which is the tax hikes, the spending cuts, each if they deal with the spending cuts and we're waiting to see what the measure will look like. i know what a hard-hitting white house reporter you are. i want to know whether it's apple kay, pumpkin pie or peekan pie for the president and first family on christmas day. any news on the menu? >> reporter: no, i am still waiting to find out. maybe we'll find out a little later today. you don't frequently find out until they have just released it, until the white house releases the information so we'll be standing by to let you know how the president spends his holiday. nothing on his public schedule, but, you know, he normally visits with troops so we're expecting he might do that today here in hawaii. >> that would be a wonderful way to spend christmas day. brianna keilar live from honolulu, hawaii, thanks. >>> other stories in the news, all day and all night this christmas people in newtown, connecticut are paying tribute to sandy hock's victims. a kindl is being lit for each children and 6 adults and volunteers are being
the fiscal cliff which is the tax hikes, the spending cuts, each if they deal with the spending cuts and we're waiting to see what the measure will look like. i know what a hard-hitting white house reporter you are. i want to know whether it's apple kay, pumpkin pie or peekan pie for the president and first family on christmas day. any news on the menu? >> reporter: no, i am still waiting to find out. maybe we'll find out a little later today. you don't frequently find out until they have...
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Dec 26, 2012
12/12
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FOXNEWSW
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vacation short to deal with the dreaded fiscal cliff. with just six days until the deadline, some lawmakers say it might be too late. and that's next. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. from the president cutting his holiday vacation in hawaii short to get back to work on avoiding the fiscal cliff. the white house says the president is set to return to the nation's capital tomorrow morning to try to hammer out a deal where lawmakers on stopping automatic tax hikes and deep spending cuts from kicking in, which is set to happen, if you're not watching the calendar, six days from now. if they don't reach a deal many say it could send the country right back into recession. ed hen
vacation short to deal with the dreaded fiscal cliff. with just six days until the deadline, some lawmakers say it might be too late. and that's next. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us...
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Dec 27, 2012
12/12
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CNNW
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. >> we are dangerously close to the fiscal cliff. now, in all fairness, not all of it hits on new year's day but some of it does. the white house, we have a white house source who has said this. let me just read this to you. it says we believe very strongly a reasonable package can get majorities in both houses. the only thing that would prevent it is if senator mcconnell and speaker boehner don't cooperate. this is from the white house yesterday. do you believe that to be the case? >> no, i don't believe that to be the case. listen, a year ago august when the president was negotiating with the speaker, they were very close to the big deal that needs to be struck. and this isn't a one party or a one house problem. this is leaders of both parties and all branches of the government are not willing to make the deal that they know they have to make, and everybody wants their stuff but doesn't want to give up, you know, what they don't want to give up. >> you know, we're showing pictures right now of john boehner and president obama. john
. >> we are dangerously close to the fiscal cliff. now, in all fairness, not all of it hits on new year's day but some of it does. the white house, we have a white house source who has said this. let me just read this to you. it says we believe very strongly a reasonable package can get majorities in both houses. the only thing that would prevent it is if senator mcconnell and speaker boehner don't cooperate. this is from the white house yesterday. do you believe that to be the case?...
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Jan 1, 2013
01/13
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americans as part of their framework for avoiding the fiscal cliff. but spending cuts still very much up in the air. team fox coverage continues with rich edson on capitol hill. rich, what's the latest on that framework. >> trace, in just a few hours, tax rates across the board are scheduled to increase. this proposal deals with it. this is the framework that senators have been discussing here. families would pay the same income tax rates they do now on the first $450,000 of income amounts of more than that they get a tax increase. one year extension of long-term unemployment benefits. doctors are scheduled to get a significant pay cut. this plan prevents that and on the estate tax, can you palings -- pass on $5 million tax tree anything more the government takes 40%, trace. >> trace: what's the hold-up from lawmakers exactly? >> in some corners, it's the spending cuts dealing with the sequester. those automatic spending cuts that are supposed to hit the economy this year or this upcoming year. there are democrats that have issue. senate democrats hav
americans as part of their framework for avoiding the fiscal cliff. but spending cuts still very much up in the air. team fox coverage continues with rich edson on capitol hill. rich, what's the latest on that framework. >> trace, in just a few hours, tax rates across the board are scheduled to increase. this proposal deals with it. this is the framework that senators have been discussing here. families would pay the same income tax rates they do now on the first $450,000 of income...
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Dec 29, 2012
12/12
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WUSA
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we are now just three days away from the huge tax hikes and spending cuts known as the fiscal cliff. today, the president met with congressional leaders at the white house, but the action is now in the u.s. senate, where the republican and democratic leaders are trying to find some sort of compromise. but if they can't, the president is insisting on an up and down vote on his plan in both the house and senate. the vote in the news room tonight was to have gary nurenberg fill us in. gary? >> reporter: derek, how absurd is this? almost no one wants the country to see that combination of huge spending cuts and tax increases, but month after month after month, congress has been unable to cut a deal to avoid them. how absurd is this? so absurd the president is quoting yogi berra to describe it. >> this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything has to wait until the last minute. we're now at the last minute. >> reporter: the president spoke after a meeting where republican and d
we are now just three days away from the huge tax hikes and spending cuts known as the fiscal cliff. today, the president met with congressional leaders at the white house, but the action is now in the u.s. senate, where the republican and democratic leaders are trying to find some sort of compromise. but if they can't, the president is insisting on an up and down vote on his plan in both the house and senate. the vote in the news room tonight was to have gary nurenberg fill us in. gary?...
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Dec 30, 2012
12/12
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so it will take care -- it would take care of the tax side of the fiscal cliff but i suspect it will do nothing about the spending side and that hundred billion dollars in automatic spending cuts which is called the sequestration would go into effect on january 1st. >> but then they still have a few days i'm assuming chris, even if sequestration does go into effect, it doesn't go right away. they have time to work it out? >> exactly. if they can't get it by the deadline, it may take some weeks to do that but it doesn't kick in immediately and agencies can delay, you know, if they have like an 8% cut over the course of the year, they can do little in january and february and hope that congress does something about it later on in the year. so, you know, in that sense, if they are able to avoid the tax increases for most americans, they will have taken away the vast majority of the impact of the fiscal cliff. >> and i know also you will be talking with senator feinstein about her plan. she says day one she is going to submit legislation to renew the assault weapons ban. >> that's exactl
so it will take care -- it would take care of the tax side of the fiscal cliff but i suspect it will do nothing about the spending side and that hundred billion dollars in automatic spending cuts which is called the sequestration would go into effect on january 1st. >> but then they still have a few days i'm assuming chris, even if sequestration does go into effect, it doesn't go right away. they have time to work it out? >> exactly. if they can't get it by the deadline, it may take...
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Jan 1, 2013
01/13
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KQED
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cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $250,000 and couples making more than $300,000. the estate tax would rise to 40%. emergency unemployment benefits would be extended for another year. the alternative minimum tax would be adjusted for inflation permanently. and, in an effort to boost the economy, small businesses would be eligible for another year of bonus depreciation when they buy equipment. the big hang up is what to do about the sequester-- $110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. democrats want to postpone the cuts for a year or more. republicans for just a few months. >> i think there are some republicans who believe there is no other trigger that will f
cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $250,000 and couples making more than $300,000. the estate tax would...
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Dec 28, 2012
12/12
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CNNW
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but that's cutting pretty close, as you can imagine, because we go over the fiscal cliff as of monday night without a deal. so pretty tight timeline there. >> what is the thinking at this point, dana bash, that most congressional leaders feel like going over the cliff, whether they will say it publicly is one thing, but going over the cliff might be better, because on the other end of it, you can vote for tax cuts versus raising taxes for a certain number of americans, politically speaking, isn't that a better scenario for them? >> it may politically be a better secenario for some congresspeople. but it will be a catastrophe because of public opinion, the way markets would respond on january 2nd. i think politically obviously it saves a little face, particularly for some republicans who don't want to vote for tax increases. taxes increase automatically, but it isn't without consequences and we're trying to get a sense today -- the meeting that you mentioned, 3:00 p.m. at the white house, congressional leaders with the president and vice president. coming out of that, i think we may ha
but that's cutting pretty close, as you can imagine, because we go over the fiscal cliff as of monday night without a deal. so pretty tight timeline there. >> what is the thinking at this point, dana bash, that most congressional leaders feel like going over the cliff, whether they will say it publicly is one thing, but going over the cliff might be better, because on the other end of it, you can vote for tax cuts versus raising taxes for a certain number of americans, politically...
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Dec 29, 2012
12/12
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first few days of 2013. >>> and for some, the biggest objection to the fiscal cliff is the cuts to project defense spending. they warned it's bad news for national security. peter deucey explains who mean affected. >> reporter: last friday when president obama rolled out his new plan for steering us away from the fiscal cliff, there was a word he did not say and that word was sequester. the sequester would automatically cut more than $100 billion from the budget next year, half from domestic programs and half from defense programs and now as the deadline draws close, experts are looking at the cuts from a national security standpoint and warning one final time about heir safety of the service members. >> and that is going to affect the operational force deployed in terms of its ability to maintain its equipment to quiet re-- get repair parts and that is around the world, not just in afghanistan being reduced and it would impact on the training of the force and the preparedness to conduct other operations. >> reporter: white house officials are saying that it's still unclear what is going t
first few days of 2013. >>> and for some, the biggest objection to the fiscal cliff is the cuts to project defense spending. they warned it's bad news for national security. peter deucey explains who mean affected. >> reporter: last friday when president obama rolled out his new plan for steering us away from the fiscal cliff, there was a word he did not say and that word was sequester. the sequester would automatically cut more than $100 billion from the budget next year, half...
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Dec 27, 2012
12/12
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downgrade in the consumer confidence numbers but you have to admit, it's the fiscal cliff, the debt clock stuff. i don't blame them. >> reporter: yeah. people think the general public is oblivious and not paying attention. they want to blow off the fact people are bored about hearing about the fiscal cliff but the reality is that 98% of americans will be affected and will see taxes go up if we go over the cliff at the end of the year. this consumer confidence number is an indication of what economist have been warning if we go over the cliff and enter into a new recession in 2013. that consumer confidence number down 6 points to just over 65. you know as well as i do this is a big change in the overall trend we had been seeing of improving consumer confidence. so as we near the fiscal cliff and near the end of the year, folks are buckling up, didn't spend as much as christmastime and we depend on the spending for economic growth. it's the engine of economic growth and all fingers point to another recession. >> eric: yesterday we got indication the retail sales for christmas were bad. toda
downgrade in the consumer confidence numbers but you have to admit, it's the fiscal cliff, the debt clock stuff. i don't blame them. >> reporter: yeah. people think the general public is oblivious and not paying attention. they want to blow off the fact people are bored about hearing about the fiscal cliff but the reality is that 98% of americans will be affected and will see taxes go up if we go over the cliff at the end of the year. this consumer confidence number is an indication of...
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Dec 28, 2012
12/12
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if we go over that fiscal cliff, that triggers fears of automatic spending cuts, and we are just looking at the defense piece today. the pentagon will face a cut of $492 billion. that is about a half trillion dollars over nine years. that works out to about a 55 billion-dollar cut per year, starting next year, 2013. defense analysts say this on top of hundreds of additional cuts already in place for defense will be devastating to the military. >> it is going to affect the operational force that is its livelihood to get it equipment and not just the force in afghanistan that is being reduced. it would impact the training as well. reporter: there is a large defense industry will also be hit. private companies may not get government contracts to keep them in business. >> severe budget cuts could literally put national security at risk if the companies that make the f-35 fighter jet or nuclear submarines or artillery pieces don't have the money and have to lay off work force and close facilities. reporter: jim moran said his district, right outside of washington, home to many who work in the
if we go over that fiscal cliff, that triggers fears of automatic spending cuts, and we are just looking at the defense piece today. the pentagon will face a cut of $492 billion. that is about a half trillion dollars over nine years. that works out to about a 55 billion-dollar cut per year, starting next year, 2013. defense analysts say this on top of hundreds of additional cuts already in place for defense will be devastating to the military. >> it is going to affect the operational...
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Dec 26, 2012
12/12
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FOXNEWSW
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back from the edge of the fiscal cliff. and welcome to a brand new hour of "america live," i'm heather childers. gregg: and i'm gregg jarrett, megyn is off today. senate lawmakers also cutting short their holiday break. the real sticking point is in all of this has been the president's proposed tax hike. both sides suggesting a cooling-off period was necessary before getting back to business, but the word from both democrats and republicans today, nothing has changed. chief white house correspondent ed henry is in beautiful honolulu. aloha, ed. [laughter] >> reporter: aloha. [laughter] well, it's interesting pause you say the sticking point -- because you say the sticking point is taxes going up, which is true, but the other big one will be spending cuts because the latest offer, we've been through plan a which was that $4 trillion debt deal, plan b which fell apart on speaker john boehner last week, now we're basically on plan c which president obama says would be dealing with short-term issues like two million people who
back from the edge of the fiscal cliff. and welcome to a brand new hour of "america live," i'm heather childers. gregg: and i'm gregg jarrett, megyn is off today. senate lawmakers also cutting short their holiday break. the real sticking point is in all of this has been the president's proposed tax hike. both sides suggesting a cooling-off period was necessary before getting back to business, but the word from both democrats and republicans today, nothing has changed. chief white...
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Jan 1, 2013
01/13
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WUSA
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congress did not get it done and the country goes over the fiscal cliff in less th an hour but there is a deal in the works that could stop tax cuts, though it has to pass the house of congress in the next day and a half. it is uncertain. gary joins us now. >> reporter: taxes are going up for most workers because none of the deals being talked about stop taxes going up. for a working making $50,000 a year, that is a thousand dollars increase in your with holding. the income tax rates, there is a agreement to stop those for going up for 99%. there is a agreement to stop the big spending cuts from kicking in by kicking the can down the road a couple months. right now on the hill, outside the senate, they are waiting for word from vice president joe biden who is briefing the caucus on the deal that he reached with senate leaders and with the republican majority leader. they said a few moments ago that there will be a vote sometime before midnight tonight, no guarantee it will pass. whatever happens we are going over that cliff. >> happy new year. >> reporter: vice president joe biden me
congress did not get it done and the country goes over the fiscal cliff in less th an hour but there is a deal in the works that could stop tax cuts, though it has to pass the house of congress in the next day and a half. it is uncertain. gary joins us now. >> reporter: taxes are going up for most workers because none of the deals being talked about stop taxes going up. for a working making $50,000 a year, that is a thousand dollars increase in your with holding. the income tax rates,...
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Dec 31, 2012
12/12
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WBAL
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[no audio] >> just hours away from possibly going over the fiscal cliff. if without a deal before midnight, americans will be ringing in this new year with tax hikes and spending cuts. this could kick the economy back into a recession. both chambers convened in a rare sunday session but came up empty. all a great tax rates should be preserved for the middle class. >> taxes on middle class families do not go up. >> in the deal must force wealthier americans to pay more. republicans say that will do nothing to curb the mounting debt. ernie to joe biden to break the stalemate. >> we are running at a time. there is too much at stake. >> workers may see less and there paycheck if there is no agreement. government contractors might be forced to lay off employees. businesses could lose tax breaks. many americans are still hoping for an 11th hour compromise. >> i would hope they could work together and realize that this is affecting everyone. >> both chambers will reconvene later this morning, at which point there will be 12 hours left until the deadline. >> what
[no audio] >> just hours away from possibly going over the fiscal cliff. if without a deal before midnight, americans will be ringing in this new year with tax hikes and spending cuts. this could kick the economy back into a recession. both chambers convened in a rare sunday session but came up empty. all a great tax rates should be preserved for the middle class. >> taxes on middle class families do not go up. >> in the deal must force wealthier americans to pay more....
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Dec 27, 2012
12/12
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FBC
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cutting his vacation in hawaii sure to tackle the fiscal cliff. reports calling the possibility of a deal before the new year "virtually impossible." let's bring in former press secretary to al gore and we also have brad blakeman. they are both joining us from washington, d.c. "the house has already passed legislation to avoid the fiscal cliff, but senate democrats have not." what do you make of that feedback they are having what amounts to a staring contest right now. it is legislation that would keep tax cuts for those making under $250,000 a year. the house does not have any plans to come back before january 1. liz: the house does have a bill that would not hurt small businesses and the job creators in this country. for some reason they seem to be avoiding that very important issue for the u.s. economy. >> what i make of it is, it all goes back to the leadership of the president. the president created this crisis. remember, he was the one who had a bipartisan commission on the debt. they came back with their proposals. two years ago, the presid
cutting his vacation in hawaii sure to tackle the fiscal cliff. reports calling the possibility of a deal before the new year "virtually impossible." let's bring in former press secretary to al gore and we also have brad blakeman. they are both joining us from washington, d.c. "the house has already passed legislation to avoid the fiscal cliff, but senate democrats have not." what do you make of that feedback they are having what amounts to a staring contest right now. it is...
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Dec 26, 2012
12/12
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fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about, plan b falling apart. now speaker boehner is pointing towards the senate and the white
fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion...
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cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $250,000 and couples making more than $300,000. the estate tax would rise to 40%. emergency unemployment benefits would be extended for another year. the alternative minimum tax would be adjusted for inflation permanently. and, in an effort to boost the economy, small businesses would be eligible for another year of bonus depreciation when they buy equipment. the big hang up is what to do about the sequester-- $110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. democrats want to postpone the cuts for a year or more. republicans for just a few months. >> i think there are some republicans who believe there is no other trigger that will f
cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $250,000 and couples making more than $300,000. the estate tax would...
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Dec 28, 2012
12/12
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we could do that and it would not help the medicare fiscal cliff. >> reporter: with time running out, hopes have diminished with talk of a smaller deal extending bush tax rates for the middle school and unemployment benefits. it puts off major spending cuts and reforms to entitlements like healthcare. >> we're going to end up with a small, kick-the-can, down-the- road bill to make another fiscal cliff to deal with this fiscal cliff. >> reporter: with expectation low, lawmakers are talk about how to retroactively fix any damage done by going over the cliff with congress. nicole collins, fox news. >>> developing tonight, a strike that could have shut down ports up and down the east coast is averted for now. the long shoreman's union along the east coast and gulf of mexico will extend the current contract for 30 days. that extension prevents a possible strike that could have crippled operations at port and including the port of baltimore. in a statement today, the maryland governor martin o'malley wrote, quote, the port of baltimore continues to be a major part of the state economic stra
we could do that and it would not help the medicare fiscal cliff. >> reporter: with time running out, hopes have diminished with talk of a smaller deal extending bush tax rates for the middle school and unemployment benefits. it puts off major spending cuts and reforms to entitlements like healthcare. >> we're going to end up with a small, kick-the-can, down-the- road bill to make another fiscal cliff to deal with this fiscal cliff. >> reporter: with expectation low, lawmakers...
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Dec 30, 2012
12/12
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WMAR
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we begin with that fiscal cliff hanger in washington, d.c. there are now just two days left until automatic tax hikes and severe budget cuts go into effect the. the president is urging democrats and republicans to reach a deal. senate leaders are working on a last-minute compromise. >>> a horrific accident in mississippi. six people including five children were killed when their suv plunged into a creek yesterday. the children were all related. police say four other adults including the parents of those children managed to escape. the vehicle that caused that accident is under investigation. >>> and stunning video of a plane crash outside of moscow, russia, the passenger plane overshot the runway and slammed into a highway yesterday. amazing video. four of the eight crew members on board were killed. there were no passengers on the plane and no one on the highway was hurt. the cause of that crash is under investigation. >>> and finally, a celebration at the vatican. about 40,000 young pilgrims from all across europe attended an open air mass
we begin with that fiscal cliff hanger in washington, d.c. there are now just two days left until automatic tax hikes and severe budget cuts go into effect the. the president is urging democrats and republicans to reach a deal. senate leaders are working on a last-minute compromise. >>> a horrific accident in mississippi. six people including five children were killed when their suv plunged into a creek yesterday. the children were all related. police say four other adults including...
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Dec 27, 2012
12/12
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cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee help as far as christmas is concerned. starbucks is hoping. if you go into a starbucks you will get a message written on your coffee that says come together. this is a company trying to tell the president and lawmakers here they need to come up with some kind of agreement before they go over the fiscal cliff at the end of the year. the senate will be meeting today. this is the first time we have seen legislative business conducted in the weeks between christmas and new years since 1970. the house come back as well but nothing yet. the other thing to consider here the two key players in all of this president obama and republican house sp
cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee help as far as christmas is concerned. starbucks is hoping. if you go into a starbucks you will get a message written on your...
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Dec 28, 2012
12/12
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WUSA
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a deal to avoid the so-called fiscal cliff. in ten days across h board-spends cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. >> they have to have their milk. we might have to cut elsewhere. >> reporter: back then the process was more laborious and farmers needed a higher subsidy to cover their costs. dan sumner says the new price of milk will with far above what it now costs dairy farmers to produce it. >> it really will be chaos. >> reporter: so we would go back to this old farm bill which would force the government to buy milk at an extremely high price. >> that's right. >> reporter: this could be a windfall for dairy farmers. >> here's the problem. they don't want chaos. it sounds good, everybody will double or about triple t
a deal to avoid the so-called fiscal cliff. in ten days across h board-spends cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. >> they have to have...
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Dec 31, 2012
12/12
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CNNW
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if no fiscal cliff deal is reached, most everyone's taxes will go up tuesday with deep spending cuts kicking in. earlier i spoke with a democratic and republican strategist. they seemed to echo the sentiment of the voters. >> this is like, when you at the beginning of the year and you're in school at the beginning of the year, you get assigned a big project and you leave it until the last night. when i used to do that, my parents used to punish me. if kids were behaving the way these congress people are, they would be in the time out. if it was the public sector they would be fired. the only solution lies with us, the american people, and with us the voters demanding that they start working together and actually coming up with something. we cannot continue having these spec tackles every few months. it's like making sausage. >> can we talk about the optics of this? there are many saying this is a republican and democratic problem, we're here because republicans won't play ball. >> it's easy for me to say that, i do think that politically, the republicans will suffer more if this does
if no fiscal cliff deal is reached, most everyone's taxes will go up tuesday with deep spending cuts kicking in. earlier i spoke with a democratic and republican strategist. they seemed to echo the sentiment of the voters. >> this is like, when you at the beginning of the year and you're in school at the beginning of the year, you get assigned a big project and you leave it until the last night. when i used to do that, my parents used to punish me. if kids were behaving the way these...
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Dec 29, 2012
12/12
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whole suite of things that were part of the fiscal cliff that aren't going to be touched. we'll have the debt ceiling rehash, all of these things come back in the first couple of weeks. >> we have a timeline issue here, we just -- a few days away, things have to -- things don't move quickly in washington as we know. there are rules in both houses of when things can come up, how much time has to pass for debate. they have to change rules to get it through quickly. even if senate comes up with the deal. mcconnell and harry reid come up with the deal. they accept it to the house on sunday night, monday morning. what are the chances of them getting their ducks in a row, boehner getting his ducks in a row and us still being able to avoid the krif? >> right. we should have a better sense of that by tomorrow afternoon when they start to reconvene. speaker boehner made it clear at the meeting at the white house on friday, anything that the senate passes will be considered by the house, might be amended, might be changed a bit. has to go back to the senate quick for changes. but he
whole suite of things that were part of the fiscal cliff that aren't going to be touched. we'll have the debt ceiling rehash, all of these things come back in the first couple of weeks. >> we have a timeline issue here, we just -- a few days away, things have to -- things don't move quickly in washington as we know. there are rules in both houses of when things can come up, how much time has to pass for debate. they have to change rules to get it through quickly. even if senate comes up...
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Dec 25, 2012
12/12
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KPIX
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real nut he's cutting it short, heading home later this week to bu heading hothe fiscal cliff as well. lor:lor: nancy, the white house ouses they have a much better chance dealing with reid as opposed to boehner? >> well, jeff, essentially they're hoping-- democrats are-- that republicans will consider piis plan even if they don't rike it the last train leaving the station so that even if this is not the package that republicans would have chosen, en,t they'll vote for it anyway vote fe otherwise taxes will go taxor everyone on january 1. >> glor: nancy cordes in hawaii. nancy, thank you. the fiscal cliff could mean severe cutbacks and layoffs in cliff couelds, like many medical research. that's forcing leaders to make mugh choices right now. here's wyatt andrews. he andreporter: professor kerri mowen, like hundreds of medical kerearchers, has already fallen off the fiscal cliff. her budget-- which relies on of federal grants-- is being cut by - % now as the n.i.h.-- the national institutes of health-- prepares for the possibility of utes of hes later. >> it's much bigger than just my
real nut he's cutting it short, heading home later this week to bu heading hothe fiscal cliff as well. lor:lor: nancy, the white house ouses they have a much better chance dealing with reid as opposed to boehner? >> well, jeff, essentially they're hoping-- democrats are-- that republicans will consider piis plan even if they don't rike it the last train leaving the station so that even if this is not the package that republicans would have chosen, en,t they'll vote for it anyway vote fe...
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Dec 25, 2012
12/12
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congress is expected to come back later this week as america gets closer to the fiscal cliff. some lawmakers are now calling for a small scale deal as a temporary fix. >> i think it's impossible to get any kind of grand bargain or comprehensive package. i think we're dealing right now with whether or not we can put off the increases in tax rates. that's really all we can deal with right now. >> the house will stand in recess subject to the call of the chair. >> reporter: congress recessed alf republicans rejected house speaker jane bahner's compromise. he proposed letting tax cuts expire for those making over $1 million a year. other republicans say it's time for a deal. >> i agree with him. i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely
congress is expected to come back later this week as america gets closer to the fiscal cliff. some lawmakers are now calling for a small scale deal as a temporary fix. >> i think it's impossible to get any kind of grand bargain or comprehensive package. i think we're dealing right now with whether or not we can put off the increases in tax rates. that's really all we can deal with right now. >> the house will stand in recess subject to the call of the chair. >> reporter:...